Launch of steel hot-rolled coil index, fob mill Canada

After a consultation period, Fastmarkets has launched a steel hot-rolled coil index, fob mill Canada, to accompany its suite of regional HRC prices in the US and Mexico.

Section 232 tariffs have disrupted traditional supply chains that were facilitated by the North American Free Trade Agreement (NAFTA) between the US, Canada and Mexico, and then by the revamped US-Mexico-Canada Agreement (USMCA).

US President Donald Trump’s imposition of steep metal tariffs in 2025 has effectively cut off many Canadian steel market participants from accessing the US markets easily or cost-effectively.

As a result, Fastmarkets subscribers have asked for a variety of localized solutions that reflect regional differences within the USMCA zone. This launch gives Fastmarkets total coverage of the USMCA zone with six total regional prices, acknowledging the reality of regional market dynamics in a highly competitive and volatile market.

Additionally, the Canadian hot-rolled coil market is concentrated in Ontario, which together with Detroit represents a major historical nexus of automotive manufacturing, with assembly plants and original equipment manufacturers (OEMs) of major auto companies present in the region.

The specifications for the index are as follows:

MB-STE-0951 Steel hot-rolled coil index, fob mill Canada, C$/cwt
Quality: ASTM A1011 Commercial Steel and corresponding grades. 0.09-0.38in thick x 48-72in wide
Quantity: Min 50 short tons
Location: FOB mill Canada
Unit: C$ per hundredweight
Publication: Weekly, Thursday 4-5pm ET
Notes: Standard packaging, raw materials surcharges included. Payment terms are typical commercial practice in the HRC market. Transactions that are conducted on different payment or credit terms will be adjusted back to the base specifications, taking into account discounts and standard commercial terms.

This price will be a part of the Fastmarkets steel package.

Fastmarkets’ index methodology screens outliers and applies a quantity-weighted model to ensure that the steel hot-rolled coil index, fob mill Canada is the most robust in the industry. Fastmarkets has no financial interest in the level or direction of the index.

To provide feedback on this prices or if you would like to provide price information by becoming a data submitter to this, please contact pricing@fastmarkets.com and steel@fastmarkets.com. Please add the subject heading “re: Canada steel HRC.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.